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Financial News: Portugal Inflation Slows For Second Month

Portugal Inflation Slows For Second Month

07/12/2017 - 06:33:00 (RTTNews)

(RTTNews) - Portugal's consumer price inflation eased for the second straight month in June, figures from Statistics Portugal showed Wednesday.

The consumer price index rose 0.9 percent year-over-year in June, slower than the 1.5 percent climb in May.

Moreover, the latest rate of increase was the weakest since December 2016, when inflation was the same 0.9 percent.

The slowdown in inflation was mainly driven by the deceleration of prices of food and non-alcoholic beverages.

Core inflation, which excludes energy and unprocessed food products, eased marginally to 1.1 percent in June from 1.2 percent in May.

Month-on-month, consumer prices dropped 0.4 percent from May, when it edged down by 0.2 percent.

Inflation based on the Harmonized Index of Consumer prices moderated to 1.0 percent in June from 1.7 percent in the prior month. It was expected to slow to 1.6 percent.

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